DB Corp said advertising rate hike by MY FM is effective November 15, 2018.
DB Corp shares gained 2 percent intraday Monday after its radio division hiked advertising rates in double digit.
".....radio division MY FM has increased its advertising rates by 15 percent across key markets," the print media company said in its filing.
The hike is effective from November 15, 2018 backed by strong growth in listenership across its key markets including Ahmedabad, Chandigarh, Jaipur, Indore, Bhopal, Nagpur, Raipur, Surat, Nashik, Aurangabad and Rajkot, it added.
Rahul Namjoshi, Business Head, MY FM, said, "The price hike will help us to continue offering an enjoyable listening experience for our listeners and deliver stronger ROI for advertisers".At 15:20 hours IST, the stock was quoting at Rs 181.20, up Rs 2.55, or 1.43 percent on the BSE.